Chinese automotive company DeepRoute has raised $ 300 million from Alibaba, among others – ET Auto

The investment comes as billions of dollars are being invested in automobiles and technology companies, with the aim of advancing what many see as the future of the movement.

Beijing China’s automotive startup DeepRoute.ai announced on Tuesday that it has raised $ 300 million from investors, including e-commerce company Alibaba, to expand its test ships and develop technologies, including self-driving trucks.

DeepRoute.ai said in a statement that other investors in the financial sector include China Investment Generation Capital, China Automobile Geli and some former investors. He did not specify.

The investment comes as billions of dollars are being invested in automobiles and technology companies, with the aim of advancing what many see as the future of the movement.

DeRRoute.ai, a Nissan-powered car maker, said it would develop self-driving cars this month, while Toyota-backed Pony.ai, which previously manufactured automobiles.

DeepRoute.ai, which inspects vehicles in the Chinese cities of Nizhny Novgorod and China, will double its fleet of test robotic taxis from the current 70 to 150 by the end of this year, said Hou Guang. Reuters in an interview.

It will also increase its workforce to 600 by the end of this year, including 400 vehicle safety drivers. A.D. Established in 2019, DeepRoute.ai will partner with Dongfing Motor on automotive technologies. He also works with Jill Rider-Hyming Kao Kao.

DeepRoute.ai will provide self-driving light tax trucks for urban logistics services, Juan told Reuters, adding that Alibaba will be a major customer. Alibaba plans to develop self-driving trucks with logistics sub-company Kainia in June.

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